March 2014 Hamilton Ontario Real Estate
Market Statistics For Sellers & Buyers
Looking for Current MLS Listings,Solds, Statistics, House
Prices in the Hamilton - Burlington Real Estate Board
Including Dundas, Ancaster, Waterdown, Stoney Creek
March Madness has hit the Real Estate Market in and around the area covered by RAHB (The REALTORS® Association of Hamilton-Burlington). There were 1887 properties listed in March compared to 1409 in February, with 1268 sold in March compared to only 948 in February. The average selling price went up slightly overall from $399,375 to $409,684. To break those numbers down a little more, there were 995 Residential houses sold with an average of $443,151 and 250 Condominiums sold with an average sales price of $284,784. Year to Date, for the first quarter of 2014, the numbers are still pointing to a strong Spring Market, especially since winter is still not giving up on us. Residential Average price is $398,604, up just over 7% from last year at this time, and Condo's are up almost 8.5% with an average of $264,938.
Sellers Market vs Buyers Market. Right now most parts of Hamilton, all of Dundas, Ancaster, Waterdown, Burlington, are experiencing a Sellers Market. That means there are many more Buyers looking to buy Real Estate, than there are houses and condo's for sale. Not all houses are selling quickly though. It is important for Buyers to be well educated by a LOCAL Real Estate Agent to find out if the pricing is right on a home, before they find themselves emotionally buying an overpriced listing. Buyers should make sure they are looking at comparable SOLDS in the area before proceeding to put in an Offer of Purchase and Sale, and always make sure they have already been pre-approved for a mortgage with the bank or better still, with a Mortgage Broker. Sellers that have talked to LOCAL Real Estate Agents will know the best price to put on their house to sell it quickly for the most money. They should make sure it is easy for people to come and see the property and that it is super CLEAN. Sellers know they have the right price in a Sellers Market usually in the first couple of weeks of listing their home on MLS. In fact, there are many areas right now that are experiencing Multiple Offers.
Note: Numbers of sales represents sales reported on properties listed on the Multiple Listing Service (MLS) of the REALTORS Association of Hamilton-Burlington. Average sale price is calculated by dividing the total dollar volume of sales (not shown) by the number of sales in that month.
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